While the U.S. Senate Banking Committee hosted several hearings on GSE reform in November, budget negotiations have slowed the chamber's work on housing finance reform. CUNA’s testimony in a Senate hearing last month focused on several key components of housing finance reform, using S. 1217, the Housing Finance Reform and Taxpayer Protection Act (the Senate’s Corker-Warner bill) as a base from which to recommend changes. New GSE reform legislation was expected to be introduced in early December by Chairman Sen. Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, but budget talks have pushed GSE discussions into 2014. Their new proposal is expected to mirror the structure of the current Senate proposal, including important credit union components of a government backed 30 year fixed mortgage product and access to the secondary market. MCUL will continue to communicate our GSE priorities as additional drafts are introduced in early 2014.